After the Crash – Upwards on the US Stock Exchange

After the recent days' decline, the indexes on the New York Stock Exchange changed direction on Tuesday – and rose broadly by around 1 percent. One of the day's big winners was Uber.

» Updated: September 10 2024

» Published: August 06 2024

After the Crash – Upwards on the US Stock Exchange
Photo: Peter Morgan/AP/TT

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The past week has been marked by sharp stock market downturns, and Monday became one of the worst trading days in several years, according to CNBC.

On Tuesday, things went significantly better, even though the indexes turned downward again just before closing. The broad S&P 500 had risen by 1.0 percent at closing, while the industrious Dow Jones was up by 0.8 percent. The Nasdaq composite index rose by 1.0 percent.

In connection with the stock market crash, most major technology companies have fallen sharply, with processor manufacturer AMD as Monday's big exception. On Tuesday, the situation was largely reversed: AMD fell by around 3.4 percent, while several technology companies recovered somewhat. For example, semiconductor giant Nvidia rose by 3.8 percent, while Facebook owner Meta climbed 3.9 percent.

Cybersecurity company Crowdstrike, which was involved in the major technical disruptions that occurred worldwide in mid-July, has plummeted on the stock exchange in recent weeks. However, the company's share was one of the few that rose on the stock exchange on the bloody Monday, and continued to increase on Tuesday. At closing, it had climbed by 4.3 percent.

Another company that rose sharply on Tuesday was transportation company Uber, which rose by 10.9 percent after a strong quarterly report.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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